Medallion Resources Provides Clarification on Earlier Press Release Regarding REE Metallization and Magnet Recycling Partnership

Medallion Resources Ltd.

VANCOUVER, British Columbia, May 09, 2022 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”)issued a press release on March 28, 2022 (the “Press Release”) announcing the signing of an exclusivity agreement with a private North American research company to provide a three-month period to undertake due diligence additional on proprietary rare earth element (“REE”) rare earth magnet metallization and recycling technologies.

The press release contained information regarding Ligand-Assisted Displacement Chromatography (“LAD”), licensed from the Purdue Research Foundation. Medallion would like to clarify the scope of use of the company’s license for LAD chromatography, which is exclusively licensed from the Purdue Research Foundation to separate REE from all raw materials, excluding carbon sources and other excluding recycled materials from manufacturing waste and recyclates from battery and magnet sources. .

About Medallion Resources

Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related business model to achieve low-cost, short-term production of rare earth elements (REE) by exploiting the monazite. Monazite is a rare earth phosphate ore that is widely available as a by-product of mineral sand mining operations. In addition, Medallion recently licensed innovative REE separation technology from the Purdue Research Foundation that can be used by Medallion and sub-licensed by Medallion to third-party REE producers.

REE are essential inputs for electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of safe waste transportation, handling and management. Medallion uses life cycle assessment methodology to support investment and decision making.

To learn more about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN), visit MedallionResources.com.

contacts):

Mark SaxonPresident and CEO
+1.604.681.9558 or [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Medallion management assumes sole responsibility for the content and prepared this press release. Some of the statements in this release are forward-looking statements, such as statements describing Medallion’s plans with respect to general strategic matters and the advancement of its business plan, Medallion’s ability to advance and commercialize its technological platforms and to negotiate commercial agreements with third party parties.

Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”. , “projects”, “plans”, and similar expressions, or statements that events, conditions or results “will”, “could”, “could” or “should” occur or be achieved or their negatives or other comparable words. Because forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including risks relating to market conditions and regulatory approval and other risks. described in the discussions of the Company’s management and the analysis of the financial results. The actual results in each case could differ materially from those currently anticipated in these statements. These forward-looking statements are made as of the date of this press release and, except as required by applicable securities laws, Medallion disclaims any intention or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws.

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